Huong Hoang
under the condition of repayment fixed by annual instalment.
A the net result to the Colony of works (defrayed from a debenture loans is, on the expenditure side, the interest on the loan and the cost of maintenance of the work, and on the revenue side, the receipt from the work if it is directly reproductive, eliminating both the receipt of the Loan and the cost of construction of the work as will appear in the annual Estimates of Revenue & Expenditure though both should of course appear in the public accounts.
This argument applies equally to drafts from balances.
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